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Now we're @ 1540.40.

Not even sure if the overall earnings season - which barely started - was really that bad compared to consensus earnings expectations. Anybody have a link with the percentage of SP500 companies reporting so far (probably only a fraction) with an average how these fared against estimates so far?

http://www.marketwatch.com/news/story/china-shrugs-off-rate-hike/story.aspx?guid=%7B5A493113-EC6B-4E34-8445-7519044901E3%7D "After the markets closed, the People's Bank of China said that it will raise the one-year yuan lending rate by 0.27 percentage points to 6.84% effective Saturday, as...

Very good post with a realistic expecation. I agree on every point.

Dear Michael, just for the record, could you please post a brokerage statement/screenshot of the above trade: Short GOOG from 520, June 11th and holding it all the way through to today? If you can post that, I promise I will put you on ignore and will never ever criticize any of your posts...

Shorted to death by geniuses that reason its "overvalued". Just like RIMM, CROX, BIDU etc. etc.

Why not start a journal and post all of your "ideas" there instead of starting a new thread for each and every one of them?

I can only imagine these are merely paper trades. It's easy to become bold in simulated trading and trade against the market. It won't ever hurt. Remember how he told us he was shorting IBKR when it wasn't available for shorting yet?

Looks like too many were looking for a "crash" today

MichaelScott PM'd me this pic of his office at work, I hope he doesn't mind me sharing it with everyone:

Says the guy who just was caught stealing... uhh I mean.. copy & pasting half a book, then putting his name underneath.

Thanks for posting that. MichaelScott seems to be a thief and fraud.

lol You think the Fed gives a damn about a fund blowing up on 10x or 100x leverage? The Fed cares about real world impact and so far we see none. Will there be an impact? Maybe, maybe not. If so, the bond markets will let us know when it's time to head for cover.

I don't think so, but I was frantically searching for something bullish to post amidst the doom and gloom in the last 12 hours so I found his beautiful piece :)

Market insight: Be bullish and watch the bears impale themselves By Ken Fisher Updated: 6:42 p.m. ET July 17, 2007 Headlines herald a US prime-time, subprime mortgage implosion leading to an upcoming credit-crunch crisis – destined to sink shares, raise interest rates and impale...

Gotta love the bears digging for trash

Let the market decide how much up or down a stock should be trading. If you're convinced it should be down 15% just go short with 200% of your capital and see what happens.

"Hope" is not a helpful emotion when trading.

People buying stocks/covering shorts

And the market answered you accordingly, didn't it Mike: